Trade war to intensify, make world poorer: Paul Krugman
Foreign affairsJun 27, 2018
JEJU ISLAND -- An intensifying global trade war would increase tariffs by up to 40 percent and reduce trade by two-thirds around the globe, resulting in the whole world becoming poorer, a Nobel Laureate economist said Wednesday at a forum on peace and security. Paul Krugman, a distinguished professor of the City University of New York, said South Korea’s export-driven economy is vulnerable to a US-led trade war, but its strong economic ties with other Asian countries in the region could mitigate